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Scenario for Monday

12 September 2016, EUR/USD

Daily chart: the pair is in a flat (non-directional) range inside Bollinger envelopes (1.1100 - 1.1360). At the same time, the range is getting much more narrow, so the main axis around which the price will "rotate" is the middle Bollinger band (1.1250)

Scenario for Monday

Н4: a similar picture - horizontal trading on a weak corrective ADX. A better expressed range - 1.1178 - 1.1306. There is an upward phase of the price movement on the background of the last domestic bulls' bar.

Scenario for Monday

Н1: 1.1196 - 1.1250 corridor (the bottom Bollinger envelope). ADX is close to the active zone, but continues to go through correction.

Scenario for Monday

The main scenario - flat in the range of 1.1196 - 1.1250

The alternative scenario - surge to 1.1302 (in the case of a breakthrough above 1.1250)

Trading solutions: trade from both sides of the corridor: 1.1196 and 1.1302.

Aleksey Panasenko
Analyst of «FreshForex» company
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